Mayfair firm completes £2m Series A investment for healthcare ‘innovator’
A London venture capital firm has completed a multi-million pound investment into a healthcare ‘innovator’.
Mayfair-based investment house IW Capital has invested £2m into medtech GPDQ in a Series A funding round.
GPDQ uses its tech platform to provide a multi-channel doctor-on-demand service, connecting healthcare professionals with both NHS and private patients via video, home visits and in-clinic.
The firm plans to use the funding to bolster sales and account management, generate leads through increased marketing activity and develop its platform.
Paul Roberts, CEO of GPDQ, commented: “We set out five years ago with a vision to build a more sustainable healthcare system in the UK by working with the NHS, employers and insurers to deliver more care closer to patients out in the community.
“This £2m Series A investment will bolster GPDQ’s ability to deliver at scale as it supports the NHS, employers and insurers in getting the UK safely back to normality in the wake of Covid-19.
“Remobilising the workforce following lockdown will be an enormous challenge for all employers, and our market leading solution provides the necessary clinical guidance and support for them to do that. Meanwhile our community visiting services will ensure that those most at risk, including those in care homes are not left behind and forgotten.”
Luke Davis, chief executive of IW Capital, added: “We had an overwhelming demand from our investor base to support this GPDQ raise despite widespread economic uncertainty, and this demonstrates the value of private capital in ensuring that innovative SMEs can still access the funding they need to grow.
“The investment also shows the importance of private investors in growing businesses that can have an impact on national and global issues such as COVID-19. As investment providers we have a duty to offer these opportunities to investors but also to make sure that innovative SMEs get the funding required to grow.”
Access free online guidance for North East businesses in the Growth Hub North East's COVID-19 toolkit →